WPP invests in French media group in post-Brexit focus on Europe
Advertising giant WPP has announced that it is investing in a French media firm as it ramps up growth in Europe following Britain's decision to leave the European Union.
The Sir Martin Sorrell-run firm said that it would invest in Les Nouvelle Editions Independantes, which owns holdings in newspaper Le Monde and VICE France.
"As a result of the UK's referendum decision to leave the European Union, WPP will place an even greater emphasis on growth in western continental Europe, which includes four of the group's top 10 markets worldwide: Germany, France, Italy and Spain," WPP said.
Sir Martin was an advocate for the UK remaining in the European Union.
In France, WPP generates revenues of over 700 million US dollars and employs around 5,000 people.